Lawyers Weekly - legal news for Australian lawyers

Powered by MOMENTUM MEDIA
lawyers weekly logo
Advertisement
Big Law

Ironbridge retains 10 per cent shareholding in Eclipx

Ironbridge Funds has reduced its investment in fleet management and car financing group Eclipx, with the successful execution of a 38 million share block trade.

May 18, 2016 By Melissa Coade
Ironbridge retains 10 per cent shareholding in Eclipx
expand image

Firms: Clayton Utz (Ironbridge Capital Management)

Deal: Ironbridge Funds has executed the block trade of 38 million shares held in Eclipx Group Ltd to UBS.

Value: More than $120 million

Area: Banking and finance

Key players: Clayton Utz corporate/private equity partners Niro Ananda (pictured) and David Stammers led the team advising selling shareholder Ironbridge Funds, with assistance from senior associate Kounny Rattley.

Deal significance: Eclipx is a fleet management and car financing group, of which private equity firm Ironbridge Capital Management (Ironbridge Funds) executed the block trade of a portion of its share stake. According to the AFR, Ironbridge Funds has retained a 10 per cent shareholding in Eclipx.

The successful block trade saw UBS purchase the 38 million shares from Ironbridge Funds for over $120 million.

Clayton Utz advised Ironbridge Funds on the execution of the block trade. In a statement released by the firm, the deal adds to the track record of Clayton Utz’s private equity team, which has acted on a number of block trades for private equity investors over the years who have exited investments in ASX-listed companies.

Loving our content? Get unlimited access as a premium member for just $5/month or $49/year. Become a member here.

Tags
You need to be a member to post comments. Become a member today
Got a tip for us?
If you have any news tips or stories to share, feel free to send them our way.
lawyersweekly jobs image
lawyersweekly jobs
Discover the latest legal jobs
Find Australian legal jobs, employment & career opportunities
Momentum Media Logo
Most Innovative Company